Iran petchem revenue to reach $25b in 2021: Oil Minister
- Iranian Minister of Petroleum said on Thursday that 11 billion dollars of revenues earned in the first boom of the petrochemical industry seven years ago, and in the second jump, the income is expected to reach 25 billion dollars at the end of the next Iranian calendar year (March 20, 2021-March 20, 2022).
Addressing an online opening ceremony for petrochemical projects at the presence of President Hassan Rouhani, Bijan Zanganeh added that the Ministry of Petroleum has faithfully attempted to continue petrochemical development projects amid illegal US embargo on Iran.
Pursuing the policy of the resistance economy, Iran succeeded in achieving great progress in petrochemical industry, the minister noted.
Iran had earned 2 billion dollars of the petrochemical industry in 1997 and the income reached 11 billion dollars in 2013, Zanganeh said. The revenue of petrochemical projects would increase to 25 billion dollars by March 20, 2022, he noted, adding that 37 billion dollars of income is on the horizon by 2025.
With the completion of 19 petrochemical projects set for the end of the current Iranian year (March 20, 2021), the plants are expected to produce 25 million tons of petrochemical products, the minister stated.
The ministry has put into operation seven projects so far, and three projects, including Ilam Petrochemical Plant, Hegmataneh Petrochemical Plant and some small projects in Orumiyeh, are slated to be inaugurated today, Zanganeh expressed.
Source: Islamic Republic News Agency - IRNA